London Co. of Virginia Sells 152,773 Shares of Copart, Inc. $CPRT

London Co. of Virginia decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,221,283 shares of the business services provider’s stock after selling 152,773 shares during the period. London Co. of Virginia’s holdings in Copart were worth $144,861,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CPRT. PDS Planning Inc increased its position in shares of Copart by 4.9% during the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock worth $234,000 after acquiring an additional 242 shares in the last quarter. Hollencrest Capital Management raised its holdings in shares of Copart by 13.2% in the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock worth $94,000 after acquiring an additional 244 shares during the last quarter. Unique Wealth LLC lifted its position in Copart by 2.3% in the 3rd quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock valued at $485,000 after acquiring an additional 245 shares in the last quarter. Howard Capital Management Inc. lifted its position in Copart by 1.1% in the 3rd quarter. Howard Capital Management Inc. now owns 24,163 shares of the business services provider’s stock valued at $1,087,000 after acquiring an additional 253 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on CPRT shares. CJS Securities raised Copart to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Barclays reaffirmed an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. dropped their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.40.

Copart Stock Performance

CPRT opened at $33.88 on Tuesday. Copart, Inc. has a fifty-two week low of $33.53 and a fifty-two week high of $63.85. The firm has a 50-day moving average of $38.62 and a 200 day moving average of $41.27. The firm has a market cap of $32.64 billion, a P/E ratio of 21.18 and a beta of 1.09.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. Equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.